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The Economic and Financial Crimes Commission (EFCC) on Wednesday, arraigned Mahmud A. Abubakar before Justice NC Nwabulu of the Federal Capital Territory High Court, Maitama, Abuja.
Abubakar was charged with two counts bordering on detaining the proceeds of criminal activities amounting to N1,098,976,008.
Count one reads: “That you Mahmud A. Abubakar, between January 2024 and December 2024, within the jurisdiction of this Honorable Court have had control over the proceeds of crime in the amount of N795,360,000 (Seven Hundred and Ninety Five Million Three Hundred and Sixty Thousand Naira) in your Access Bank under the name Mahmud A. Abubakar and number 0057310017, which is the amount you know to be the same emanating from a criminal offense and thereby committing an offense contrary to Section 17(a) of the Economic and Financial Crimes Commission (Establishment) Act, 2004 and punishable under Section 17(b) of the same Act.”
Count two reads: “That you Mahmud A. Abubakar, between January 2024 to December 2024, within the jurisdiction of this Honorable Court have transferred the proceeds of crime amounting to N303,616,008 (Three Hundred and Three Million Six Hundred Sixteen Thousand and Eight Naira) from your Access Bank with the name Mahmud A. Abubakar and number 0057310017, to one Suleiman Umar whose number you know the same emanates from a criminal offense and thereby commits an offense contrary to Section 17(a) of the Economic and Financial Crimes Commission (Establishment) Act, 2004 and punishable under Section 17(b) of the same.”
He pleaded “not guilty” to the charges, prompting the prosecutor, YY Tarfa, to request a trial date and for the defendant to be returned to the Correctional Institution, while the defense attorney, AM Aliyu, applied for bail, which the prosecutor did not oppose.
Judge Nwabulu granted bail to the accused on two sureties, both of whom must be Level 15 civil servants, and one of whom must be a property owner in the Federal Capital Territory, FCT.
The judge further ordered that the defendant be returned to the Kuje Correctional Center, Abuja pending the fulfillment of bail conditions and adjourned the matter until September 30, 2026, for the commencement of trial.
